For some, the biggest obstacle in implementing an investment program is their concern about the amount needed to invest. In today’s robust investment marketplace, you do not need to wait to accumulate a significant nest egg best you create an investment strategy. Investment alternatives are available in many vehicles such as employer sponsored 401(k)’s, IRA’s, and online brokerage accounts. Most of these alternatives have very low initial entry points, such as $100, $1,000, or $2,000. In this day and age, anyone who chooses to invest, can invest.
A great starting point for determining how much you can invest is to do a quick budget. Write down all of your income and subtract your expenses. If the amount left over is smaller than you would like, go over your expenses to see if there are any areas that you can cut back in order to obtain long term advantages.
Employer sponsored 401(k)’s are an excellent starting point. You can ask your employer to deduct a small amount from each paycheck which can be invested on a tax deferred basis. Not only do you have potential long term gains on your deducted amounts, but in many cases, the employer matches some parts of employee’s contributions.
As you portfolio grows over time, you will be able to expand your investment landscape into additional areas. Money can be apportioned for buying a new house, college expenses, and retirement. Each will have its own unique needs as to the types of investments deployed.
An investment advisor or Certified Financial Planner® can help you in these areas. Although some do have minimum asset levels or minimum fixed fees that must be met, there are numerous advisors that are flexible with their structures. Geier Asset Management does not have a minimum asset level or fee required. We can work with you on an hourly basis in a manner that is conducive to your budget. Our objective is to develop a long term relationship with you so that we can help your investment portfolio grow over time.
No matter how much you have to invest, we can help you embark on a sound investment journey. Let’s start setting goals and working together now.